WEDNESDAY'S PERSONAL FINANCE STORIES

Even if you don't know much about the investment-newsletter business -- and with nearly 300 newsletters that are tracked by the Hulbert Financial Digest, the industry is a vast one -- you've probably heard of Value Line. It's the newsletter that most likely was in your broker's office back in the days when that was the only place you could go to watch the NYSE tape.

Value Line's ranking system has long been a valuable stock-picking tool, and those who have followed the newsletter's recommendations have tended to do better than the crowd. But it appears now that Value Line is in the process of squandering that hard-won successful reputation.

As Investments editor Jonathan Burton reveals in a special report, Value Line is under scrutiny on several fronts, including its lax handling of the release times for its ranking changes, which have shown a power to move stocks, and its mutual-fund trading practices.

Read the Mutual Understanding column to find out more on Value Line's troubles, plus check out columns from Jennifer Openshaw on five unusual savings ideas for the holidays and from Chuck Jaffe on why so much financial advice fails to hit home this time of year, on Wednesday's Personal Finance pages.

The biggest question facing Value Line: Was the newsletter providing added value to a select few at the expense of the rest of us?

Steve Kerch, assistant managing editor/personal finance

Value Line on the hot seat

Shares of Steelcase Inc. rose in the first half hour of trading on Oct. 27 on volume that was almost two-thirds the daily average for the office-furniture maker. Meanwhile, shares of eyewear manufacturer Oakley Inc. fell on volume equal to almost three-quarters of its daily average. There was no news from the companies to move Steelcase higher and Oakley lower in those 30 minutes. What these two stocks did share on that Thursday morning was a mention in the Value Line Investment Survey, one of the country's most influential investment newsletters. See Mutual Understanding.

CONSUMER

Five unusual ways to save during the holidays

So much of the advice on controlling holiday spending is at best a cliché and at worst misleading. In today's world of excess debt, higher interest rates and rising costs of certain other important winter staples -- like home heating -- it's more important than ever to find ways to keep the outlays down. Are you ready for some newer ideas? Here are five ways to keep a handle on overall holiday spending and still see some smiles on Christmas Day. See Jennifer Openshaw.

Why holiday financial advice fails to bear fruit

There's an old joke about holiday fruitcakes, which holds that there really are only a few of them, and that they keep being shipped as a gift from one person to the next, never eaten by anyone. If you substitute "holiday spending tips" for "fruitcake," that joke probably comes close to the truth. See Chuck Jaffe.

How to insure your education dollars

Most people realize that education is an investment. Despite the astronomical tuition charges at private high schools and universities, parents and students know that the money they are spending should and will lead to more job opportunities and room for growth after degrees are received. And yet what most people don't recognize is that the costs of education can be insured, just like many other investments. See Marshall Loeb's Daily Money Tip.

REAL ESTATE

Data on home sales open to interpretation

The U.S. housing market has gone from boom to bust to boom again, if you believe the recent data. Just a day after the National Association of Realtors declared that home sales had peaked, the U.S. government reported record new-home sales for October. The contradictory data have investors and economists scratching their heads. Has the housing bubble has popped? Or is it still growing? See Capitol Report.

Banks tighten lending on U.S. condo projects

Some of the nation's largest lenders are cutting back on financing and are tightening standards for condominium projects, a sign that banks, which helped to fuel the run-up in real-estate prices with cheap debt, may be growing more skeptical about the prospects for residential properties. See story from RealEstateJournal.

Retired oysterman returns home to get his house in order

YSCLOSKEY, La. -- Joe Gonzales is on a journey that thousands of victims of Hurricane Katrina are contemplating: He's trying to move home. See story from RealEstateJournal.

Three Maui homes that are relative bargains

Maui is Hawaii's second largest island and has more than 30 miles of beaches for surfing, snorkeling and sunbathing. It has seen home prices rise 24% within the past year, from a median price of $550,000 in October 2004, to $680,000 in October 2005. Below is a collection of three Maui houses priced at or below the current median price. See story from RealEstateJournal.

Austin home market makes a comeback

It's fitting that the housing market in Austin -- a free-spirited college town and technology hub that promotes its bats as a tourist attraction and boasts a music scene that has served up such rebel rockers as Janis Joplin -- is gaining steam just as real estate markets in the rest of the country are beginning to cool off. See story from RealEstateJournal.

AUTOMOBILES

Auto sales still sluggish despite promotions

Driven by a new round of year-end promotions, November U.S. auto sales are poised for a comeback after a dismal showing in October. But industry analysts are still seeing a rough fall season in the showrooms compared to a year ago. See full story.

INVESTING

International funds grab more assets in October

Investors continued to pile money into mutual funds that concentrate on international companies last month while avoiding U.S.-stock portfolios, according to the latest data from the Investment Company Institute released Tuesday. See Fund Watch.

Gold-market sentiment remains surprisingly cool

If you want to know why contrarians are worried about the stock market, just take a look at gold. Despite bullion being at a 20-year high, the average gold market timer currently is less bullish than the average stock market timer. You'd expect just the reverse to be the case. See Mark Hulbert.

Fund manager taps Pfizer, International Paper, Gannett

Fund manager spots convertible-bond opportunity

Fund manager Alan Muschott tells Jonathan Burton where he's finding opportunities in the convertible-bond market, which has been enjoying a rebound. See Broadband Report.

CAREERS

Common warning signs from would-be bosses

Many applicants ignore warning signs about their boss-to-be. Yet recognizing the type of person you will be working for is one of the most important factors that should be considered when deciding whether to accept an offer. In today's buoyant job market, "you have the choice of picking your boss as much as your boss has the choice of picking you," observes Beverly Kaye, a retention consultant in Sherman Oaks, Calif. See story from CareerJournal.

Call centers start to move -- to U.S. kitchens

There are a lot of things Peggy Griffiths likes about her job as a virtual call agent. The former business analyst no longer worries about suits, traffic or overtime. She decides how long she is going to work and when. Griffiths usually spends a few hours a day handling calls for Teleflora, a unit of closely held Roll International. Customers don't know the master gardener is at home in Prescott, Ariz., rather than at their local florist. See story from CareerJournal.

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